Company / Analytics

Analytics, 21 June 2021

What will drive the markets this week?

Global stocks closed higher last week, with the S&P 500 hitting a fresh record in the US despite concerns over inflation as reopening optimism continued to push markets in Europe.

This week investors will parse a range of economic data, including reports on existing and new home sales and another reading on consumer sentiment and expectations for June, as well as weekly crude stocks from the Energy Information Administration in the US.

In Europe, investors will read minutes of the Bank of England (BOE) meeting on interest rates; most economists are not expecting a rate hike or any significant changes to its current monetary policy. But, like the U.S. central bank, many are expecting the BoE to indicate that it, too, plans to hike interest rates at least twice in 2023.

Investors will also digest earnings from Nike, FedEx, and Darden restaurants. Meanwhile, Amazon’s highly anticipated, two-day Prime Day event kick’s off on Monday (June 21).

Monday, June 21:

Amazon’s highly anticipated, two-day Prime Day event kicks off. Chief Financial Officer Brian Olsavsky said during the company’s earnings call in April that the decision to push the date back was based on a number of factors, including the Olympics and July being a “big vacation month.” Amazon has said it marked the two biggest days for small and medium businesses across the world, surpassing $3.5 billion in sales last year.

Tuesday, June 22:

Wednesday, June 23:

Thursday, June 24:

Friday, June 25:

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